take over of proprietorship by son
Abhishek Jain (90 Points)
20 March 2018
my father is a composition dealer with stock around 10
3 Replies
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 20 March 2018
what is your question
Uday
(Article Assistant)
(411 Points)
Replied 21 March 2018
When business is transferred as going concern to another person is not treated as supply as per sec 7(1)(d) CGST ACT
Abhishek Jain
(90 Points)
Replied 21 March 2018
my father is a composition dealer with stock around 10 lakhs.. he also earn comercial rent of rs 1lakh per year only..
gst act says any service provider cannot opt for composition scheme..
that is why he wants to transfer his business to his sons name..
the son is planning to get gst registration on 1st april 2018
what is the process??
do he have to pay gst on stock in hand or not?
gst act says any service provider cannot opt for composition scheme..
that is why he wants to transfer his business to his sons name..
the son is planning to get gst registration on 1st april 2018
what is the process??
do he have to pay gst on stock in hand or not?
Recent Topics
- DRC-01 Demand Notice for filing GSTR-9 Wrongly
- Income Tax for freelancing services
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
- Section 44ADA Query - 75 Lakh Limit Clarification
- GST on Rent RCM
- Clarification on GST Credit Note Rejection and Ret
Related Threads
CAclubindia
